For one location, I have:
Number of lollipops selling at morning time
Number of lollipops selling at afternoon time
Selling periods: Every 30 minutes is a period, which sells lollies either morning or afternoon
Q1: I would like to calculate the probability of morning and afternoon lolly sold. My formula:
Location Morning Afternoon Total
Number of lollies 2 10 12
Selling periods 1 2 3
Ratio 2 5 4
P(Moring) = 2/4 = 0.5
P(Afternoon) = 5/4 = 1.25
If I take the ratio of: P(Afternoon)/P(Morning). Will it be called?
Thanks,
I'm not 100% sure what do you mean by your question, but here:
As you took the ratios just compare them; $\frac{A\space (Morning \space Sells)}{D \space (Morning \space Events)}$ with $\frac{B\space (Afternoon\space Sells)}{E \space (Afternoon\space Events)}$
Lets say you have $16$ morning events and $8$ morning sells, that means that every second lollipop was sold, or $0.5$= 50% sell rate.
Now lets say you have then $18$ afternoon events and only $6$ afternoon sells, here you get by the same logic the sell rate of $\frac{1}{3}$ or 33% sell rate.
Then you conclude that there was $\frac{1}{2}-\frac{1}{3}=\frac{1}{6}$ more sells in the morning, or ~16% better sell rate.
Now you know for how much and when there are more sells.
If you want to compare on which location there were more/less sells just compare the ratios of each location.
I believe this answers your second question; ...And if you want to know if there were total of more morning or afternoon sells considering all locations, you can just sum up the sell ratios and calculate the average sell ratio in the mornings and average sell ratio in the afternoon and see which time of the day sells better.
Its still not clear to me tho what do you mean by F? Numbers of no lollipop events? ...when each event is a lollipop event? (Either a lollipop sold or not sold)